Suppose we observe the $3-$year Treasury security rate $($ R$31$

$)$ to be $8$ percent, the expected $1-$year rate next year$$ E$($r$12)$

$$to be $4$ percent, and the expected one$-$year rate the following year$$ E$($r$13)$

$$to be $6$ percent. If the unbiased expectations theory of the term structure of interest rates holds, what is the $1-$year Treasury security rate, R$11$

$?$